After Ola Electric’s announcement to refund Rs 130 crore to its S1 Pro customers, TVS Motor Company has now announced reimbursement of Rs 20 crore charger cost it charged to the iQube customers. Amid the controversy, Hero MotoCorp recently slashed prices of its Vida V1 Plus and Vida V1 Pro electric scooters. Notably, Hero MotoCorp, Ather Energy, TVS, and Ola are said to be under scrutiny for allegedly using a loophole in the FAME-II scheme in order to be eligible for subsidies.
TVS to refund charger cost
In an issued press statement, TVS said that customers who were asked to pay an additional cost for a charger and thus they had to pay over 1.50 lakh in total for their purchase will, under the “goodwill benefit scheme” receive a refund.
As of now, the customers had to pay Rs 9,450 for the portable charger bundled with the iQube electric scooter. The company sold the portable chargers separately to keep the price of its iQube electric scooter just under 1.50 lakh, which makes the offering eligible for FAME-II incentives. Not only TVS, but Ather Energy, Hero MotoCorp, and Ola had also said to have followed the same formula.
April electric two-wheeler sales
The overall two-wheeler electric sales witnessed a 23 per cent drop to 66,468 units in April 2023 compared to record-breaking sales of over 85,000 units in March 2023. The reason for a decline in sales is said to be the controversy of two-wheeler EV brands are facing allegations for keeping prices of their electric scooters lower by asking to pay additional cost for portable chargers and additional software features.
TVS iQube 2022 Full Spec
| Price (Ex-Delhi) Starts Rs 98,564 |
Displacement -NA- |
Transmission Automatic |
Max Power(ps) -NA- |
Max Torque(Nm) 140.00 |
Mileage -NA- |
KTM 390 Adventure 2022 Full Spec
| Price (Ex-Delhi) Starts Rs 2,99,000 |
Displacement 373cc |
Transmission 6-Speed |
Max Power(ps) 44.00 |
Max Torque(Nm) 37.00 |
Mileage -NA- |
Ola Electric S1 2021 Full Spec
| Price (Ex-Delhi) Starts Rs 1,10,149 |
Displacement -NA- |
Transmission Automatic |
Max Power(ps) 11.55 |
Max Torque(Nm) -NA- |
Mileage 181 Kmpl |
Keyword: TVS to refund Rs 20 crore charger cost to iQube customers